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May 15, 2012
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i'm going to start with you senator levin. does this $2 billion and maybe bigger loss by j.p. morgan point to the need for more government regulation? >> you've already adopted the law. it's called dodd frank. we have language in there. i actually drafted withson another senator. it's very clear in that law that while you're alloy allowed to hedge, you are not allowed to gamble. the difference between them is that the hedging we specifically allow that banks are permitted to engage in has got to reduce the risk. it's explicit in the law. and what this bank did in this case by their own data is not reduce the risk. they were dramatically increasing the risk by their own data. that is not permitted by our law. we hope that the regulators, when they're writing out the regulations to implement the law, will read our law because we think it's mighty clear. >> woodruff: senator corker, what about that? i mean, j.p. morgan is considered one of the best-run investment banks in the country. the fact that they made an error of this size, does that point to the need for regulation? >> we
i'm going to start with you senator levin. does this $2 billion and maybe bigger loss by j.p. morgan point to the need for more government regulation? >> you've already adopted the law. it's called dodd frank. we have language in there. i actually drafted withson another senator. it's very clear in that law that while you're alloy allowed to hedge, you are not allowed to gamble. the difference between them is that the hedging we specifically allow that banks are permitted to engage in has...
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May 12, 2012
05/12
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then, we end up bailing out these banks. >> woodruff: levin pointed to the need for the new "volcker rule," named after former federal reserve chairman paul volcker. it takes effect in july, and will ban so-called "proprietary trading," effectively barring big banks from trading with their own money. j.p. morgan's dimon insisted yesterday that's not what his bank was doing. in the meantime, it was widely reported that the federal securities and exchange commission has opened an investigation into exactly what did happen. >> brown: and to help flesh out more about this story, we turn first to liz rappaport of "the wall street journal." if a company debt... viewed as more likely to pay off its debt, its debt, you know, the value of these contracts, these derivatives go up or down. so jpmorgan was effectively taking a very large position in securities that would pay off for the bank if the u.s. economy and american corporations got healthier. >> brown: now one of the question, of course here, is whether this trade activity was intended as a form of guarding against risk or actually bets
then, we end up bailing out these banks. >> woodruff: levin pointed to the need for the new "volcker rule," named after former federal reserve chairman paul volcker. it takes effect in july, and will ban so-called "proprietary trading," effectively barring big banks from trading with their own money. j.p. morgan's dimon insisted yesterday that's not what his bank was doing. in the meantime, it was widely reported that the federal securities and exchange commission has...
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Sep 6, 2012
09/12
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we're diswroind by two of them, michigan senator carl levin, and tim ryan, a member of the house from ohio. both of you come from districts representing auto workers. had term do you use, senator? >> we saved the auto industry. the president helped save the auto industry. it was critically important that that be done. a million jobs have been saved. no auto-producing countrin the world did not support its auto industry during this recession. the idea that we would let it go under and the romney statement, "let detroit go bankrupt," his definition of bankruptcy meant real bankruptcy, not just restructuring. it's going to hurt him in michigan and ohio what he has said about letting the auto industry go under. i think it will hurt him in the country. i find the reaction to that slogan-- imported from detroit-- having an amazing impact everywhere in the country, by the way. when that commercial hit that chrysler put on, it brought pride-- not just to michigan, not just to ohio. i'm telling you, i found it all over the country. >> ifill: congress, i want you to ask you to tell your story.
we're diswroind by two of them, michigan senator carl levin, and tim ryan, a member of the house from ohio. both of you come from districts representing auto workers. had term do you use, senator? >> we saved the auto industry. the president helped save the auto industry. it was critically important that that be done. a million jobs have been saved. no auto-producing countrin the world did not support its auto industry during this recession. the idea that we would let it go under and the...
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Apr 28, 2012
04/12
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levine's best known for poems about working class life and people he grew up around in troit, as in "of love and other disasters." >> "the grease ate so deeply into her skin it became a part of her, and she put her hand, palm up, on the bar and pointed with her cigarette at the deep lines that work had carved." >> brown: they were together for the first time recently, reading their work and speaking to a packed crowd at the annual gathering of the association of writers and writing programs, held this year in chicago. the next day, i sat down with the two of them, and began by asking just why they'd wted to take on this public role. >> in my case, it was because there hadn't been a woman laureate in the nearly 400 years. >> brown: you felt that it was important to take on? >> i felt it very much, and i think it was felt in the country that a woman's voice should be represented-- not necessarily my voice, but certainly a woman. i felt it was something i couldn't turn down, even if i had reservations. >> brown: did you have reservations? >> yeah, i think a poet should be private and inv
levine's best known for poems about working class life and people he grew up around in troit, as in "of love and other disasters." >> "the grease ate so deeply into her skin it became a part of her, and she put her hand, palm up, on the bar and pointed with her cigarette at the deep lines that work had carved." >> brown: they were together for the first time recently, reading their work and speaking to a packed crowd at the annual gathering of the association of...
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Sep 27, 2012
09/12
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. >> woodruff: in fact, peter levine, director of the center for information and research on civic learning and engagement at tufts university says one set of issues that could hurt romney with this age group is his conservative stance on social policy. >> i think all the social issues is a complete distraction and damaging with young people because on the whole they are pretty liberal on social issues and they are not interested in them as we found from our polls. he needs to stick to talking >> woodruff: for whatever reason, many young voters are stillp for grabs says john >> the largest segment of undecided voters in america i think will be found on college campuses. we're seeing more than 10% of 18- to 24-year-olds at this point in the campaign are still undecided. so that is a significant number. >> woodruff: and it's more significant when you recognize how large a group it is. >> we have more millennials today than baby boomers in this country, almost one in four american citizens is part of this younger millennial generation. >> woodruff: that fact is not lost on the candidates. last
. >> woodruff: in fact, peter levine, director of the center for information and research on civic learning and engagement at tufts university says one set of issues that could hurt romney with this age group is his conservative stance on social policy. >> i think all the social issues is a complete distraction and damaging with young people because on the whole they are pretty liberal on social issues and they are not interested in them as we found from our polls. he needs to stick...
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Mar 27, 2012
03/12
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it seems to be scheduled before the levin son inquiry and it will be who and when gets charged in the british situation. we have over 40 people arrested but in britain... >> re: arreed t not arge >> it's not like in the u.s. get you get arrested and arraigned the next day with charges. the estimates are the charges will take place in june then we'll know who's going to trial. we'll know more as time goes on about what else went on and who else will come forward and talk about it. >> rose: those arrested but not charge included andy coleson, former executive at "news of the world" and later the press secretary for prime minister cameron and rebekah brooks said to be a rupert murdoch favorite who s in charge of all the newspapers that's right. >> rose: great to have you here. >> nice to be here. >> rose: lowell bergman, the film is "frontline" on tuesday night on 10:00 on pbs. captioning sponsored by rose communications captioned by media access group at wgbh access.wgbh.org
it seems to be scheduled before the levin son inquiry and it will be who and when gets charged in the british situation. we have over 40 people arrested but in britain... >> re: arreed t not arge >> it's not like in the u.s. get you get arrested and arraigned the next day with charges. the estimates are the charges will take place in june then we'll know who's going to trial. we'll know more as time goes on about what else went on and who else will come forward and talk about it....
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Dec 25, 2012
12/12
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. >> i remember talking to philip levine the number of poetry readings, he said you can't take a walk without tripping over one as owe poe posed to when he was young. >> it's enormous. a small percentage of that population that actually reads poetry, i think however that poetry is influencing the culture in ways we don't see and ways that other arts are as well. in the lives of people who don't pay attention to it. in ways that not always aware of. i talk about that in the introduction. >> more than 100,000 submissions certainly a lot of people are writing poetry. >> i think it's actually -- may not get people to admit that they're writing poetry, but the number of people who write poetry -- don't show it to anybody. i mean all the time, they don't want to show it just talk about the act of having written something. i think it's embedded in our genes. we don't know it as culture that doesn't have poetry. it has such roots that not going to be -- >> we'll continue this conversation online. i hope our viewers will join us there. for now, christian wiman thanks for talking to us about th
. >> i remember talking to philip levine the number of poetry readings, he said you can't take a walk without tripping over one as owe poe posed to when he was young. >> it's enormous. a small percentage of that population that actually reads poetry, i think however that poetry is influencing the culture in ways we don't see and ways that other arts are as well. in the lives of people who don't pay attention to it. in ways that not always aware of. i talk about that in the...